Hydronic baseboard heating pipes froze and leaked water, costs?

[Sean Keating]

I am looking at a split level single family house foreclosure.  Upon inspection the inspector notes that all Hydronic baseboard heaters have busted pipes.  It appears that the water was off before the pipes busted but everywhere there was a heater there is wet flooring.  This is especially true in the basement and near the water heater.   I'm assuming they have been wet for a couple months since they weather warmed up. The inspector also noted that there is moisture in the walls detected by his tool.  We didn't notice any visual signs of mold, and ceilings have no visual signs of water damage.  The pipes appear to be copper from the ones we can see.

I guess my question is what could I expect here?  How much should I be allocating for repairs?

I'm not sure what happens when water lines freeze, could there be multiple breaks, could there be breaks in the wall?  Should a budget for a complete re-pipe? 

How worried should I be about this problem?